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Note 8 - Deposits

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

Note 8 – Deposits

Deposit balances as of December 31 consisted of the following:

(Dollars in thousands)		2020				2019
Noninterest-bearing demand deposits		$	477,654			$	287,460
Interest-bearing demand deposits			471,346				236,154
Money market deposits			191,681				263,666
Savings deposits			337,332				206,050
Local certificates of deposit			196,565				158,985
Brokered certificates of deposit			-				2,287
Total deposits		$	1,674,578			$	1,154,602

Scheduled maturities of certificates of deposit at December 31, 2020 were as follows:

(Dollars in thousands)
2021		$	156,612
2022			22,001
2023			9,790
2024			4,181
2025			3,656
Thereafter			325
Total		$	196,565

The Bank had certificates of deposit issued in denominations of $250,000 or greater totaling $88.2 million and $68.3 million at December 31, 2020 and 2019, respectively. The Bank held $0 in brokered certificates of deposit at December 31, 2020, compared to $2.3 million at December 31, 2019. In addition, the Bank had $12.7 million and $7.1 million of certificates of deposit as of December 31, 2020, and December 31, 2019, respectively, that had been issued through the Certificate of Deposit Account Registry Service (CDARS). 

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- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

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- References

No definition available.

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